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, at least in terms of the signaling from the adp. that should be something that sets the tone for the market today. also take a look in asia. overnight, the nikkei ending down by about 39 points. you did see green arrows. bombay up about 48 points. oil prices at this point are down to 51 cents, 91.38. the ten-year note right now yielding 1.615%, so the yield is getting pressured even further at this level. the dollar this morning, currency markets, the dollar is down against the euro. and up against the yen. gold prices up by about $5. 1,780. we might get to 1,800. within striking distance. >> yeah. it's still your read. >> oh. i was looking at the pictures. right now it's time for the global markets report. i will explain to you what happened. this is all jim cramer's fault. we had a total war at 2:30 in the morning. >> that makes no sense. you might have an excuse. he's not nursing, right? >> no. >> not that we know of. >> i got up at 4:30 and was tweeting yesterday and i couldn't believe he beat me. he challenged me at 2:30. i thought i won. anyway, karen is standing by in lond london. go
, including adp, which we will talk about as well. we will see if we add to these gains when we get to manufacturing ism. over in europe, we continue to watch every move out of the prime minister of spain and the first rating agency to take that country's debt to junk status. >> our road map starts with signs of hope in the labor market. days before the september jobs report on friday, could this juice the market ahead of the first presidential debate tonight? >> adp and deutsch deal created the biggest wireless deal behind sprint. >> could the chain jump at a steal with a decade low? >> it's coming. the ipad minuting components rolling off assembly lines in asia. perhaps just in time for the holiday season. but, first, futures are edging higher after the latest data from adp showed 162,000 private sector jobses. fewer than the following month. the adp number sets the stage for the jobs number which is expected to show nonfarm payroll boosting by 118,000. jim, in the journal today it says, bald is powerful. so you can talk about jobs is whatever you want today. >> take your pick. >>
and more complete monthly jobs report. payroll processor a.d.p. said employers added 162,000 jobs last month, stronger than expected. but the pace is slowing, and numbers for july and august were revised lower. still, there are signs the job market is improving, but no where close to replenishing the jobs lost in the great recession. suzanne pratt reports. >> reporter: few things would make more americans happy than a healthy job market. from recent college grads to president obama, their future might look more certain if companies really ramped up hiring. economists say there's too much uncertainty on the horizon for that to happen any time soon. the good news is that firms have stopped cutting jobs. the bad news is they're still too nervous to hire more than a handful of new workers. friday, economists predict the september employment report will show a modest 113,000 new positions were added, barely better than august. still, some believe current data underestimates what's really happening with hiring. >> the perception of the labor market is probably more like a world where we're a
's surprise adp number can't ramp us more than two points in the s&p cash, i think we have a long three months ahead of us. >> vincent, what about that? you're the chief u.s. economist there at morgan stanley. are the fed's actions going to have much impact on the economy, and what about the jobs picture right now? >> okay, first you got to recognize the head winds the fed is working against. economic growth is slowing because of uncertainties surrounding the fiscal cliff. analysts were overoptimistic about earnings, and that reality is sinking in. and the world is a risky place. so there's reasons investors lack conviction. with regard to jobs, we've heard the adp number before. i think it's kind of getting old. so i don't take much from the fact that markets didn't respond to the adp report. i think we'll get a solid number, 125-k. >> historically, still a very small number though, right? >> sure. it's one in which we're not making material progress in reducing unemployment, and it's not one the fed will be satisfied with. they told us they're setting a much higher bar for employment gains.
of the camera. >> i like this. >> private payroll, adp. mid 100s. does it tell us anything? >> 162 is better than the street has been expecting. adp does payrolls for a lot of private sector companies. they have a pretty good idea of what is happening because they do so many different companies. 162 a little better than expected. sometimes it is dead on for what we can expect on friday from the jobs report which takes a look at government jobs. sometimes it's way off. that is what happened last month when they had 201,000 for adps numbers and then the jobs numbers was only 96. today the markets are indicating a little higher. stocks opening up about 25 points for the dow. the big number is friday. we don't know what we can read into for this. this could have huge impplications for jobs and what is happening in the election. >> thank you as always. >>> coming up next we are taking a deep dive into the iconic debate moments in history. the gasps and laughs and unbelievable zingers. >>> good news for democrats running on the u.s. senate. 33 people were killed in a series of suicide bombings in
to the payroll processing firm adp. that is higher than expected. positive news boosting stocks, the dow losing steam. volume below average even by recent standards. hewlett-packard the biggest drag on the dow hitting its lowest level in ten years after the company issued a very bleak forecast for the 2013 period due to a decrease in technology spending worldwide. oil falling well below 9500 in terms of slowing demand. the impact of china and drop in oil prices making the energy sector the worst performing sector today. oil settling down by $3.75. i am here filling in for liz claman because liz claman is in cleveland, of ohio. her old stomping ground as part of the open for business series and liz will talk to business leaders to find out how the city turned itself around. we want to know. give us a preview. liz: is part of our fox business series open for business. how could cleveland not be? this is the place. i just landed and got to the ritz hotel and saw jimmy page in the elevator. i am kidding but this is the home of rock-and-roll. it is where the term rock-and-roll was coined but also wh
will be a big focus of tonight's debate. adp the payroll processing firm came out earlier this morning and reported that 162,000 private sector jobs were added last month. more than expected. to weigh in on that, and the debate, the head of u.s. interest rate strategy at ubs is joining us now from stanford connecticut. chris, on the debate, is there anything that could be said tonight that could move the treasury markets, that could send yields higher, potentially? >> good question. you know, we're focused predominantly right now on the u.s. economy and the sluggish pace of growth. we have an eye towards europe. and we're wrestling with, you know, these flows that are being driven by the fed's qe program which really, you know, puts the hammer down on the mortgage market. but the debate tonight will for a few hours change everyone's focus, and we're going to be looking at the two candidates, and we're going to try to see if anything can come out of this conversation tonight which might change the narrative which might make our perceptions of what the polls are telling us somewhat diffe
. >>> turning to the economy, new data from payroll firm adp shows the private sector added 162,000 jobs last month. while that beats forecasts, it is a slowdown from august. adp data is closely watched as it is released just before the government's jobs report, due out this friday. >>> and the economy will be a key focus for political junkies, pundits and the undecideds, all whom will likely be glued to their tvs tonight during the first face-off between president obama and mitt romney. voters will be looking to the candidates for less spin and for more of what my next guest calls, quote, blunt new england style honesty. paul wescott joins us now from new hampshire, host of the paul wescott show on wgin. hi, paul. >> good morning. >> do you think the candidates will deliver? >> we all hope so. honestly, it really is about having an honest conversation and making sure that they actually get down to brass tax as opposed to the thousands upon thousands of ads we've been showered with here in the state over the past year. that's really, at the end of the day, what people are looking for, real so
steve leishman, he's going to join us with big news, some big changes for the adp report. stick around. ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay alive but feel alive. the new c-class is no exception. it's a mercedes-benz, through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >>> welcome back to "squawk." there are some very big changes coming for the very important adp report. steve leishman joins us now with more details. >> this is something a lot of analysts will want to follow. making a big change to its jobs report since he was launched six years ago. moody's analytics replacing macro economic advisers, and the chief economist says it will feature a bigger sample size and more detail, and what they believe is a more accurate reading on the government payroll report. so let's talk to them. let me start with mark, a frequent squawk boxer. tell me why this will be better. >> it encompasses 23 million workers up from 21 million. >> i
is paying too much attention to these debates. the adp number this morning i think is going to be important. even more so is non-farms. i think the non-farms on friday could have a lot more to do to determine the election than any of the debates that are upcoming. > > google is going gaga. what do you think about this stock? > > you know, it's interesting. any time we see one of these big national headlines - "google eclipses microsoft in market cap" - you immediately see some selling pressure. i think we're going to see something similar. don't be surprised if we see a little bit of selling and profit-taking ahead of earnings. i'd wait 'til earnings, see what happens, and then look to jump in. long-term, google is a great stock. > > what about people who own microsoft? > > you know what, microsoft, this new product that they have coming out is supposedly pretty good, windows 8. it's not like microsoft has been a bad stock. it has a great dividend yield as well. i have no problem with microsoft. > > good to have you on the show this morning. that's mark sebastian of option pit mentoring. >
of this week. we had the private sector employment numbers, adp numbers, out of the u.s. yesterday which was a positive. it did show an increase. and also we had the ism services or non-manufacturing figures as well which did show growth. but the focus really now is on what the fed will do following its move of qe3 or its next stage of quantitative easing depending on this data and upcoming jobs numbers on friday. that's really going to be a big focus for investors regarding u.s. economic data. now the dollar did get a bit of a boost following the data. let's have a look at currency pairs this morning during tokyo stock trading hours. the dollar/yen currently 78.43-44. and the euro/yen, 101.29-34. euro getting a boost there and continues upwards and higher as well. so again, slightly softer yen. we may get a bit of a boost for exporters. >> let's talk about some domestic factors that -- there are some big concerns also for upcoming earnings here. how are they going to come into play? >> that will be a big focus there. of course a lot of concern for japanese companies given the slowdown i
after sending up a caution flag for next year's earnings. adp reported the private sector added 162,000 new jobs. according to usa today, six chains are hiring upwards of 300,000 holiday workers. facebook will test whether users will pay to post on their friend's news feed. >>> chick-fil-a reiterated support for biblical families. the fbi raided a houston company for exporting military technology to russia. 84-year-old oil tycoon pickens is putting another x in texas divorcing wife number four. >>> one city official says it's getting tough to tell the average joe from the average millionaire. >>> how do you turn five bucks in a fortune? do we have your attention? let it sit around for awhile. this one given to vice president charles fairbanks in 1905 could fetch $300,000 at auction. not bad. >>> a flop in the nba and fines. wild cards fight on and sean peyton returns to the superdome. the first triple crown winner in 45 years. your first look at sports ahead. you are watching "first look" on msnbc. trust duracell...?? duralock power preserve. locks in power for up to 10 years in sto
lori: we have some important jobs data today. adp reported we had more than expected jobs last month, but a drop from august. where is the recovery, are we in a jobless non-recovery? melissa: that is depressing. how about a housing recovery? guess who is here? we will talk about what trends are being seen right now. lori: you were already harassing her. melissa: it will be great. lori: you have to stick with us this hour. let's get you updated on the market as we do every 15 minutes. we have our own nicole petallides at the new york stock exchange. nicole: looking pretty good here. holding onto some gains. a lot of of arrows. it is not always that use the all the arrows on the upside for the major industries. the dow jones industrial 13,522 right now. i want to take a look at metro pcs. yesterday, it was a lie on the rumor. we started to speculate that there was going to be a deal. it was up 20 something percent. here it is today. selling off now on the news. down about 9%. virtually flat at the moment. with this move, both companies did approve the deal. metro pcs approving a
't make sense, 114,000 consistent with the adp numbers, the fact we have a struggling economy, we're barely in positive territory on gdp, a measure of the economy and to the fact na 114,000 is barely enough to even keep up with the birth rate. i started scratching my head so i understand the confusion out there. >> jamie: let me, let me take it out of economic lingo for folks, i try to make it so that everybody can participate and understand. it sounds to me like when you saying the gdp. we're not producing more. >> we're not. >> jamie: hundreds of thousands of manufacturing jobs are gone which is something our country was previously known for. a lot of people are on the sidelines, doing less, making less, even giving up totally. >> that's true. >> jamie: what does the number actually reflect. how did they come one that number. >> it's interesting, when you look at the process, you start to see that, you know, possibly there's a-- at a survey, that's what it is, a household survey and the sample size is very low. >> jamie: they pick up the phone and call people. >> that's right. >
of the day. we saw a lot of guys bidding in the pits behind me. would not be surprised to see the adp number better than expected and we got a little bit of a bounce. i like rallying the close and adp coming in hot. don't be shocked if it goes up again tomorrow. dave: we will see you tomorrow. shares of metro pc yes bringing of games today. back to nicole petallides on the floor of the stock exchange for more details. nicole: it is up 20% all day and here it is on the floor of the stock exchange but getting a big bounce and that was all on the talk that deutsche telekom was moving in on metro pc yes which did issue their own statement confirming that it was in fact in discussions with deutsche telekom regarding t mobile usa and metro pc s and nothing for short. no assurances that anything will resolve. what was interesting is sprint today if this were to take place would not be good news because sprint was down 5%. on the other hand leave wireless, pay-as-you-go and maybe it could be a potential -- we saw it go higher and that was 8% today. cheryl: thank you. major car companies had a positi
at the day's market headlines. a choppy day for stocks. better than expected data from adp on private sector jobs and unexpected rise in service sector activity. din actually give a boost to wall street. the dow rose 12 points. meanwhile shares of hewlett-packard plunging to a nine-year low. ceo meg whitman warned profit and revenue will fall through the coming fiscal year. whitman says, the company's ongoing turn around effort is causing the gloomy outlook. >>> shares of netflix leaping more than 8%. a top citigroup analyst gives the company a strong outlook saying it is due to improved satisfaction among netflix subscribers. finally. take a look at that stock though, on fire. >>> our top story tonight, protests are erupting in the streets of tehran. you're looking at new amateur video. this is just coming into fox. we should note that we are working to authenticate it. but iran's citizens are in a panic. inflation is skyrocketing and the iranian real is plummeting to record lows against the u.s. dollar. supplies of basic goods are running short. so could iran's own economy and not the u.s.
. let's give you a flavor of what's coming up on today's agenda in the united states. the september adp employment report is out at 8:15 a.m. eastern. forecasts call for an increase in 153,000 in private sector payrolls. at 10:00 a.m., we received the september ism services index just to complete that global picture of services numbers today. analysts are looking for a reading of 53.1, down more than half a point from august. at 11:00 a.m., meg whitman holds her first meeting since taking over as ceo of hewlitt packard. >>> still to come on this show, real estate mogul barbara corcoran joins us for a look at the housing market. that's coming up at 5:45 a.m. eastern. >>> these are your headlines. president obama and mitt romney get set tonight for their first debate tonight in denver. services sector growth slows across the globe in september, and the spanish prime minister issues the latest denial that he's ready to seek a bailout. >>> the uk retailing giant both released earnings earlier this morning. this comes after a billion pound investment in uk stores. figures for the rival were
we expect? >> i think it's going to come in lighter than the adp. the adp has been a poor indicator of the jobs number. i think there's a reason the fed gave us qe-3, because they saw the softness in the labor market. i think it could come in a little on the weak side. more importantly, the official jobs number is the revisions backwards. they've been going back through previous months and knocking down those numbers. i think i wouldn't be surprised if it came in a little soft. >> kate, do you agree with that? if so, is this priced into the market? >> yes, absolutely priced in, maria. great question. what they're going to expect is for it to be terrible. if it isn't terrible, we'll see a rally. what matters most to this market is earnings. we're in pre-earnings disappointment season where we're going to float a little bit until earnings come out. we've seen a friend where earnings have beat expectations. we've gone down to earnings, earnings beat expectations, then we've had a good rally. i think that's exactly what's going to happen again this quarter. >> after the employment numbe
liesman, let's talk about tomorrow's numbers. we got the adp report out this week. did it give you an indication of what we might hear tomorrow and what are the expectations, how priced this are they in this market here in terms of the jobs numbers? >> well, maria, adp is one of the things that's used by economists to figure out what the number tomorrow might say. some guys say it's the best one. other guys say it's a terrible one. a lot of mixed opinions on it. i like to look at everything. i'm not seeing anything that tells me i should be shaking off the idea that we're somewhere in that 100 to 150,000 range. when you look at the number of jobless claims, it's about the same. a little bit of a tick up in the conference boards, the assessment of consumers out there about how easy it is to get a job. nothing off the charts. also, look at the general level of economic activity, which seems to be in the 1.5 to 2% range. >> all right. thanks, everybody. >> thanks, guys. >> we'll keep watching this market, which continues to rally. we're coming to you today from black rock. it comes do
. this number can be very different, from the government. you hear ride on the road adp seems to be ok. at 4 and 4. a d p is problematic but it shows a slight improvement. it creates more accomplishments. we will see if unemployment falls below 8%. it has been dropping but it is mostly because people have stopped looking for work. let's talk about beer. cheers sales are back up. can you get a degree there? there is probably the jobs there. but experts say that more americans are drinking craft beer. if you have no paycheck you cannot afford to be here so whether is smoking or drinking or gambling it may affect beer sales. i'm going to check out some beer sides to see if they are hiring. >> we had really hot temperatures this week san but it changes finely and store. yesterdays was a toasty who won and we broke several records. it was a hundred and two degrees breaking a record was set back in 2001. let's check out san jose where it reached mid 90's. it has not been that high for quite some long. it is 57 in pleasanton and 62 in daly city. as we see where the numbers go as far as the afternoo
dow jones industrial average of auto plants smb of five and nasdaq 15. adp better than expected 162,000 jobs this services sector at expanding the fastest europe and china pushes crude oil prices lower dropping at $88 the biggest decline in four months hewlett-packard's stock is down 13% after meg whitman predicted earnings will fall 10% next year. turning to the debate william joined by the chair reince priebus. -- . things looks at. i am ready that. >> i will sneak in candy bars and enjoyment on may setting the country straight. the president is conning the country the economy is then the ditch the debt is out of control. everything he promised four years ago across america has not come near what he promised. we will let out a better vision for the country mitt romney will do that tonight. lou: will he be aggressive to take the debate to the president? >> i think sell and the president has made it easy. think of the save some four romney. -- safe zone. it is a kill shot. connolly, debt, jobs and then what is your vision? what will you do to get the economy at of the ditch? reduce
. that's a good job what we saw from adp yesterday. good number to what we see tomorrow with unemployment for united states. we get first friday of every month. that could change stock market. it's okay. it's not glorious though. >> okay. >> i love my hp printer. does it make me the bad guy? printer, scanner, i can e-mail a photo and it will print it when i am out of town. love it. >> i remember mine from 20 years ago. it was glorious. >> yes. i like my new one very much. >> you told me to buy mine and i did. i enjoy it as well. >> make me the bad guy. >> rob is the bad guy again. >>> 6:50. we want a look at the weather and traffic. >> good morning to you. we do have clouds to contend with, that fog bank certainly back. taking a live look, we are in store for a much cooler afternoon. temperatures, we are talking 60s and 70s. tomorrow we'll continue with the cooling trend. we'll shave off a couple degrees and cooler weather is on the horizon and potential for some talk about heading into the weekend. i will get to the details coming up in a bit. let's take a look at current conditions righ
matter. >> we'll get something called the adp, private payroll report later that's one private sector gauge. we'll be closely watching that one expected at 133,000. sometimes the adp report is right on. previewing the jobs report, sometimes it is totally off. >> there's good news about car sales. >> car sales really did well in the most recent month. in fact, even doing better than early 2008. general motors up 1.5%. ford down 0.1%, but chrysler had a great month up 12%. >> is it because of low interest rates? >> it is pent up demand, a lot of incentives, low interest rates and easier financing. if you look at the foreign automakers, toyota up 41%. honda, volkswagon, hyundai, watch as these reveal on your screen that people are buying cars again. that's a sign of a resurgent american consumer, no question. and related, the north american car and truck of the year nominees are in. would you like to see what they are? >> we have a fortune reporter that's a juror who helps vote for the best car. cadillac, ats, ford fusion, i hear a lot about the ford fusion, a lot of people like the desi
then unless we get a surprise in jobs numbers which will be the key economic data for the week. adp tomorrow and jobless claims on friday. those are two everybody will be looking at. >> doreen, thank you very much. jobs numbers will be so important ahead of the election. back to you. melissa: they will be huge. ashley: she is laughing, doesn't know why. something amused her. melissa: we love her. ashley: that was great. president obama just arrived in new jersey to tour the storm damage done along the coastline. one of the hardest hit areas by hurricane sandy when she moved in. jeff flock has been in point pleasant, three, four days? melissa: he is still there? >> you must have sprung me out. we'll head to atlantic city ourselves. appreciate the good word. melissa: i try but you're still there so it didn't work? >> today, i'm leaving today. this is the boardwalk in point pleasant beach. i'll tell you, president obama will see the one in atlantic city. these are, the boardwalk was invented here on the jersey shore down in atlantic city. but the one in point pleasant beach, take a look. it is
survey shows there may be little hope for the unemployment rate to come down before election day. adp says its poll of private employers indicates they added about 162,000 jobs in september. that is down from the 189,000 added in august. analysts say the economy needs to add about 200,000 jobs a month to lower the unemployment rate. the u.s. labor department is scheduled to release its jobs report and the september unemployment rate this friday. on wall street today, stocks edged up slightly. the dow added 12 points. nasdaq rose 15. and the s&p 500 was five points higher at close. >>> the g street overpass on highway 4, investigators say a 49-year-old man reported that something came through his windshield about 9:45 last thursday night and hit him in the arm. he was treated at the hospital. right about the same time, a woman told police that something shattered her windshield. she was not hurt. back on monday night, something hit an ambulance driving on highway 4. no one was hurt in that incident either. >>> with the launch of iphone 5, apple appears to be turning its attention to a
of private sector jobs reports came in better than expected. adp says companies put 164,000 more workers on the payroll. service companies employ 90% of the work force. i's not enough to put a dent in the 8.1% unemployment rate. another leading indicator, the institute for supply says nonmanufacturing grew at the fastest pace. crude oil futures are down more than $3 to $88 a barrel. concerns over the economic slowdown in europe, china and the u.s. means less global demand. just in time for tonight's first presidential debate, jetblue airlines is announcing a new marketing gimmick for americans planning to leave the country if the other guy wins. jetblue says it will give away 2012 seats or round flights for customers on the losing battle between president obama and mitt romney. go to the website, enter the contest for a chance to win a temporary escape to the caribbean or mexico. barbara, back to you. >> i guess it depends on which side you are on, who you would like to win that. would you like to try? >> what is jetblue going to do for the folks in france, the millionaires worried about
in the week, we have the unemployment data coming out, adp employment report, so traders will be already looking forward towards the end of the week. again, while i don't want to be little this event because clearly potentially shut down for two days now is a unique event in itself. but i also want to again just shift the focus back to the technical levels and again to the fundamentals that are important which are that 1400 level in the s&p z and tand the unemployment data. >> absolutely. ben, thanks very much. a quiet day it sounds like ahead in chicago. stewart, also want to thank you for coming in this morning. now we want to take a quick look at what the latest is in terms of sandy's path. and for that we're heading over to the weather channel. we're joined by danielle banks. what can you tell us? >> well, the storm has strengthened as of the 5:00 a.m. advisory. we are talking about 85-mile-an-hour winds and the pressure has also dropped 946 millibars. in terms of the movement, the progression further north, still taking place. we're waiting to see more of that northwest ward turn. b
.9 percent, 125,000 jobs to be add and we will get a look into that tomorrow with the adp report, and we expect that private sector report to add 135,000 jobs compared to 162,000 in september so not as good. >>shepard: over on the business network you still had business. >>gerri: we always have business. there is always business on the business. >>shepard: now i know. more than 100 families are hopeless after the huge fire that broke out during the storm, the whole neighborhood, really, and some of the folks are going back to see if they can salvage anything and most cases the answer is "no." we will talk to a man who was trapped in his home as the inferno roared describing flames at 1,000 degrees being pushed along at 100 miles per hour. [ dennis ] it only took two minutes for this town to be destroyed. to a little girl who lived through it, this is more than a teddy bear. it's a step towards normal. it's why allstate catastrophe teams not only have hot coffee and help for grownups... they've also handed out more than twelve thousand teddy bears to kids. people come first... everything
created. little view into what might happen when the adp number comes out. private sector job creation. we are expecting 135,000 jobs created against 162,000 in september. that's a bit of a downer. wait and see how that comes. in that gives you an idea what to expect friday. >> we'll wait. thank you, jerry geramipoorry. >> meningitis outbreak linked to tainted shots has claimed another victim. concerns for disease control and prevention this time in virginia. death toll is now 2. meanwhile, a sister firm of that massachusetts pharmaceutical company that produced the tainted drug has announced that it's recalling all of its products. the company reports the united states food and drug administration has requested that it do so to improve testing for sterttle. stirttle. sterility. snow to onslaught of sand to that horrific six alarm fire neighborhood of breezy point. we have learned the flames destroyed even more homes than previously thought. hear from one man who decided to ride out the storm and then the firestorm only to turn to his family and say what have i done? we will tell you where
. the payroll services firm, adp, said the economy added 162,000 private sector jobs last month. that topped estimates of 143,000. now the august number, that was revised down by 12,000 to 189,000. of course we have to look ahead to the big government jobs report to flesh this all out on friday morning. >>> the services sector that expanded at its fastest pace in six months in september boosted by a pickup in new orders. the institute for supply management nonmanufacturing index that looks at 18 services industries increased to 55.1 last month from 53.7 in august. david: all right. we've got all this covered plus a lot where we have larry shoafer in the pits of the cme group. bob phillips, telling us why the recession already here. legendary investor wilbur ross who needs no introduction and will tell us what is he investing. larry over at the i know talking with nicole that hewlett-packard was bringing down the whole index. you look at oil. it is hard, you can't call it a crash but a 4.25% drop in oil is the biggest drop we've had in months. doesn't that show you that we're at a tippingpoin
adp tomorrow. it was way out of line last time. looking for 153 tomorrow. ism manufacturing, look for the jobs component and services inside that. there's the nonfarm payrolls around that 118. been around that mark for quite some time. now i'm done. sorry, guys. >> all right. let's bring rob morgan in. the question that maria asked you before that you couldn't hear, rob, was whether or not you feel this is a tired rally that we've been in for a while. i mean, six of the last eight sessions were down in the u.s. stock market here. but nothing has really changed in the fundamentals of the news we've been getting to warrant that. so what do you think is going on here? >> yeah, bill, it is certainly a bit of a tired rally. earnings are going to be terrible. i think we all know that. but looking out a little bit longer term, earnings estimates are starting to rise a little bit. maybe third quarter earnings will be a trough. sentiment is terrible, which is obviously a good thing for stocks. there's a lot of money on the sidelines. as we get towards the end of the year, fund managers are
this morning on some good news on the jobs front from adp just released. >> and samsung is allowed to sell its galaxy 10.1 tablet computer in the u.s. a judge has lifted a ban on sales of the product after a jury found that it did not illegally use technology developed by apple for its iphones and ipads. but the jury found that many of samsung's other products did fringe on apple patents and ordered the company it pay apple $1 billion. yeah, apple needs that money so bad. >> another billion. >> don't you feel sorry for them? this is kind of strange. i'm reading that there's now a bulletproof case for smartphone? why do we need this? >> reporter: yeah. exactly. i mean, i guess you know you're in a bad neighborhood if you need that. but a japanese company claims its 4.5 pound case can stand up to a gunshot. a .50-caliber bullet was fired at the case. the phone cracked after the gushed sent it tumbling into rocks but the case held unfortunately. but the bulletproof case sells for $665. i don't think it's a big hot seller for the holidays. but i could be wrong. >> you should make it toddler proof.
monthly jobs report tomorrow and we have some indicators -- >> two indicators. one is the adp a private sector report which historically has given you what is going on two days later and showed a big bump in private sector growth. the last couple of months it hasn't matched what happens on the unemployment report. then unemployment claims today. last week, the number of people who first lined up for unemployment claims actually went up a tick. so the fact is we are looking at about 110 to 115,000 jobs, what economists predict on friday. the number for september. last month as you know was 96,000 a big disappointment. i think we come in on a hundred plus, president obama breathes a sigh of relief. >> a sigh of relief doesn't mean everybody else will have that. >> for those people who don't have jobs, it doesn't mean much. >> ali velshi, good to see you. nice to see you in person. >>> make sure you watch tomorrow morning. when the numbers come in, we will go to town and take a close look at the jobs created around the country and the implications of the election, et cetera, et cetera, et
get the ad coming out? >> adp is tomorrow. they pushed it back by a day because of all the situation with the storm. chuck, you saw the opening bell ring and wall street is going to open higher today. we've been watching the futures all morning long and it looks like the dow will open up by 65 points or so. things have been incredibly orderly and that's saying something. you may have expected this to be more volatility. anything could happen as we get into the trading session. what's been surprising to me at least how orderly this whole process has been to this point. people seem calm and relaxed about things and new york, the stock exchange there is open nor business as usual. of course it's anything but business as usual if you look at large swaths of new jersey, of new york, of other areas affected by the storm and, chuck, we talked yesterday about trying to to get your arms around how big of an economic impact this is. people are still kind of playing the game today, making up numbers, but we should stress that at this point these are all very early estimates. let me give you the
think whether it's the adp number tomorrow which there's been a flurry of activity regarding discussions about how the new methodology, if you look at the 2012 numbers under the old methodology versus new oa methodology, 365,000 less with the new methodology. it just makes things a bit confusing, and for friday's number, obviously with what's going on in your part of the country, there's going to be all types of questions as steve just pointed out as to how economic activity present and future will be altered, so it just makes data a bit confusing at a time we need clarity. >> i want to be clear i don't believe the numbers will be affected by the hurricane because they came after the survey period. >> no, not these, future numbers. yes. >> the numbers that are recorded on friday. >> thanks, guys. good to see you. >> talk to you later. >> heading toward the close, we've lost the altitude here, the dow now virtually unchanged, after about a ten-point gain a moment ago. >> bill and i will give you a take on this historic day on wall street, the longest weather related closure since 1888. >>
. economists would like to go from the adp data to higher estimates but it's not been that great over the past couple months. there's a lot of of caution out there among wall street economists. data this morning -- up 162,000 from the private sector. that's a bit better than expectations which were in the 150,000, 155,000 range. in august it was revised down to 189,000. the non-farm payroll estimates. we won't know until friday if that is higher. here's the misses we've had over the past three months. it's been 63,000 heavy compared to the bls private sector report. you can see over the course of the year it's been a little bit on the high side making economists wary about upping their estimates. what has been a little bit on the up side is jobless claims. other data that helped buoy optimism, slightly higher than claims in last month's survey week. the ism jobs manufacturing is at a three-month high for that component. services was down in september but still above the 50 point. i don't think romney turns to obama and says we are doing gangbusters on jobs but they are in the 200,000 range. >>
to look at that. as you know, payroll week we get it in drips and drabs. we get the adp estimates, we get the mass layoff reports. so we'll go from day to day with that. i think most of the conversation will now begin to be what's going to happen with the presidential debates. >> we'll watch for that. thank you, gentlemen, very much. as i mentioned, the nasdaq has turned negative. let's go to the nasdaq. bertha coombs is following the movers there. >> we're coming off of those lows right now, sue. basically seeing some big caps like microsoft which today gets a downgrade at rbc negleativneg. netflix has better valuation and only a 29 pe versus amazon north of 300. amazon, a pew research survey shows that amazon is really gaining ground when it comes to tablets. a year ago apple had 82% of tablet share. now it is down to 52% according to pew. of that big gain in android, amazon owns 40%. something to watch as we go into the holidays. >> absolutely. thank you. >>> gold prices have closed and we're off of our best levels in gold as well. sharon epperson is here to give us the action down at
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